XML 50 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Derivative Financial Instruments (Tables)
 12 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments [Table Text Block]
:
Notional Amount
 
Effective Date
 
Maturity Date
 
Number of Instruments
 
Index
$127,514
 
December 2013 through June 2014
 
Various dates through June 2015
 
215
 
Various
As of June 30, 2014, we had ten outstanding interest rate swap contracts indexed to one-month LIBOR. These instruments were designated as cash flow hedges of interest rate risk and have varying start dates and maturity dates from July 2014 through January 2017. Since the start date of certain contracts has not yet commenced, the notional amount of our outstanding contracts is in excess of the variable-rate debt being hedged as of the balance sheet date.
Interest rate swap contracts outstanding:
 
Notional Amounts
Contracts accruing interest as of June 30, 2014
 
$
240,000

Contracts with a future start date
 
105,000

Total
 
$
345,000
Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The table below presents the fair value of our derivative financial instruments as well as their classification on the balance sheet as of June 30, 2014 and 2013:
 
June 30, 2014

Asset Derivatives

Liability Derivatives
Derivatives designated as hedging instruments
Balance Sheet line item

Gross amounts of recognized assets

Gross amount offset in consolidated balance sheet

Net amount

Balance Sheet line item

Gross amounts of recognized liabilities

Gross amount offset in consolidated balance sheet

Net amount
Interest rate swaps
Other non-current assets

$
—


$
—


$
—


Other current liabilities/other liabilities

$
(771
)

$
26


$
(745
)
Total derivatives designated as hedging instruments


$
—


$
—


$
—




$
(771
)

$
26


$
(745
)
















Derivatives not designated as hedging instruments















Currency forward contracts
Other current assets

$
410


$
(28
)

$
382


Other current liabilities

$
(1,058
)

$
252


$
(806
)
Total derivatives not designated as hedging instruments


$
410


$
(28
)

$
382




$
(1,058
)

$
252


$
(806
)

June 30, 2013

Asset Derivatives

Liability Derivatives
Derivatives designated as hedging instruments
Balance Sheet line item

Gross amounts of recognized assets

Gross amount offset in consolidated balance sheet

Net amount

Balance Sheet line item

Gross amounts of recognized liabilities

Gross amount offset in consolidated balance sheet

Net amount
Interest rate swaps
Other non-current assets

$
400


$
(56
)

$
344


Other current liabilities/other liabilities

$
(81
)

$
11


$
(70
)
Currency forward contracts
Other current assets

83


(13
)

70


Other current liabilities

(208
)

5


(203
)
Total derivatives designated as hedging instruments


$
483


$
(69
)

$
414




$
(289
)

$
16


$
(273
)
















Derivatives not designated as hedging instruments















Currency forward contracts
Other current assets

$
—


$
—


$
—


Other current liabilities

$
—


$
—


$
—

Total derivatives not designated as hedging instruments


$
—


$
—


$
—




$
—


$
—


$
—
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net
The following table presents the effect of our derivative financial instruments designated as hedging instruments and their classification within comprehensive income for the fiscal years ended June 30, 2014 and 2013:
Derivatives in Hedging Relationships
 
Amount of Gain (Loss) Recognized in Comprehensive Income on Derivatives (Effective Portion)
 
 
Year Ended June 30,
In thousands
 
2014

2013
Currency contracts that hedge revenue
 
(107
)
 
280

Currency contracts that hedge cost of revenue
 
59

 
(263
)
Currency contracts that hedge technology and development expense
 
70

 
80

Currency contracts that hedge general and administrative expense
 
12

 
(1
)
Interest rate swaps
 
(1,319
)
 
387

 
 
$
(1,285
)
 
$
483
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
The following table presents reclassifications out of accumulated other comprehensive income (loss) for the fiscal years ended June 30, 2014 and 2013:
Details about Accumulated Other
Comprehensive Loss Components
 
Amount Reclassified from Accumulated Other Comprehensive Loss to Net Income
Gain/(Loss)
 
Affected line item in the
Statement of Operations
 
 
Year Ended June 30,
 
 
In thousands
 
2014

2013
 
 
Currency contracts that hedge revenue
 
$
(120
)
 
$
293

 
Revenue
Currency contracts that hedge cost of revenue
 
(112
)
 
(92
)
 
Cost of revenue
Currency contracts that hedge technology and development expense
 
122

 
27

 
Technology and development expense
Currency contracts that hedge general and administrative expense
 
11

 
1

 
General and administrative expense
Interest rate swaps
 
(372
)
 
189

 
Interest income (expense), net
Total before income tax
 
(471
)
 
418

 
Income (loss) before income taxes and loss in equity interests
Income tax
 
75

 
(21
)
 
Income tax provision (benefit)
Total
 
$
(396
)
 
$
397

 
 
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]
The following table presents the adjustment to fair value recorded within the statement of operations for derivative instruments for which we did not elect hedge accounting, as well as the effect of our de-designated derivative financial instruments that no longer qualify as hedging instruments in the period:
Derivatives not classified as hedging instruments
 
Amount of Gain (Loss) Recognized in Income
 
Location of Gain (Loss) Recognized in Income (Ineffective Portion)
 
 
Year Ended June 30,
 
 
In thousands
 
2014

2013
 
 
Currency contracts
 
$
(7,473
)
 
$
29

 
Other income (expense), net